Penalty for Under-Reporting of Income to Be Imposed in Assessment Order From AY 2027-28

Last updated: 05 February 2026 Follow on Google News

The Government has proposed a major overhaul in the manner penalties for under-reporting and misreporting of income are imposed under the Income-tax law. As per the proposed amendments, penalty under Section 270A will now be levied directly within the assessment order itself, instead of being initia

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CCI News Desk

Finance news reporter covering taxation, GST, income tax, business compliance, and economy updates. I simplify complex financial topics into easy-to-understand articles for professionals, taxpayers, and business owners on leading finance and tax platforms.

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